Trump Administration Won't Label China a Currency Manipulator, Report Says
The Trump administration won’t label China a currency manipulator in an annual Treasury report on currency manipulation due this week, President Donald Trump told The Wall Street Journal (here). Trump said China hasn’t manipulated its currency for months and labeling China a currency manipulator now could threaten U.S.-China cooperation on confronting the North Korean threat, according to the April 12 article. “I think our dollar is getting too strong, and partially that’s my fault because people have confidence in me," he said. Trump listed naming China as a currency manipulator among his priorities during the presidential campaign. The White House didn’t comment.
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Rep. Sandy Levin, D-Mich., historically an outspoken currency manipulation critic, knocked Trump's words as "fiery rhetoric" without a coherent policy solution. "Instead of excusing away China’s currency policies with declarations that he alone has strengthened the dollar, he should be using the April Treasury report to lay out a coherent policy on currency manipulation," Levin said in an April 13 statement (here). "The report should make it clear that China’s previous manipulation of its currency cost millions of U.S. jobs." Levin also called on Trump to support legislation to change U.S. trade remedy laws, and make clear that all future trade agreements should include enforceable currency manipulation provisions. Rep. Rosa DeLauro, D-Conn., said in a statement she was "shocked" that Trump "so cynically walked away" from his commitment to label China a currency manipulator.
Email ITTNews@warren-news.com for a copy of DeLauro's statement.